Stephens Investment Management Group LLC Has $24.08 Million Stock Holdings in Cadence Design Systems, Inc. $CDNS

Stephens Investment Management Group LLC reduced its stake in Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.6% during the third quarter, Holdings Channel.com reports. The fund owned 68,553 shares of the software maker’s stock after selling 2,574 shares during the period. Stephens Investment Management Group LLC’s holdings in Cadence Design Systems were worth $24,080,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CDNS. Norges Bank bought a new position in Cadence Design Systems during the 2nd quarter worth approximately $1,190,618,000. Assenagon Asset Management S.A. raised its stake in Cadence Design Systems by 466.4% during the second quarter. Assenagon Asset Management S.A. now owns 786,849 shares of the software maker’s stock worth $242,468,000 after buying an additional 647,931 shares during the last quarter. Voya Investment Management LLC raised its stake in Cadence Design Systems by 914.2% during the third quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock worth $242,746,000 after buying an additional 622,934 shares during the last quarter. Scge Management L.P. acquired a new position in Cadence Design Systems in the second quarter valued at $187,663,000. Finally, Bain Capital Public Equity Management II LLC bought a new stake in Cadence Design Systems during the second quarter valued at $130,534,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CDNS shares. Needham & Company LLC reissued a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cadence Design Systems in a research note on Monday, December 29th. BNP Paribas Exane began coverage on Cadence Design Systems in a research note on Thursday, October 2nd. They issued an “outperform” rating and a $400.00 price target on the stock. KeyCorp restated an “overweight” rating and set a $405.00 price target on shares of Cadence Design Systems in a report on Tuesday, October 28th. Finally, Oppenheimer upgraded shares of Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a research note on Monday, December 1st. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Cadence Design Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $380.72.

Cadence Design Systems Price Performance

Shares of NASDAQ CDNS opened at $317.45 on Friday. The stock has a market cap of $86.41 billion, a price-to-earnings ratio of 81.82, a PEG ratio of 3.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.84 and a current ratio of 3.05. Cadence Design Systems, Inc. has a fifty-two week low of $221.56 and a fifty-two week high of $376.45. The firm’s 50-day simple moving average is $317.57 and its 200 day simple moving average is $333.58.

Cadence Design Systems (NASDAQ:CDNS) last issued its quarterly earnings data on Monday, October 27th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. Cadence Design Systems had a return on equity of 30.13% and a net margin of 20.35%.The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $1.64 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Cadence Design Systems has set its FY 2025 guidance at 7.020-7.080 EPS and its Q4 2025 guidance at 1.880-1.940 EPS. As a group, research analysts anticipate that Cadence Design Systems, Inc. will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadence Design Systems

In related news, CEO Anirudh Devgan sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $340.00, for a total transaction of $6,800,000.00. Following the transaction, the chief executive officer directly owned 195,844 shares of the company’s stock, valued at $66,586,960. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ita M. Brennan sold 180 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $337.48, for a total transaction of $60,746.40. Following the completion of the sale, the director directly owned 7,650 shares of the company’s stock, valued at $2,581,722. The trade was a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 62,025 shares of company stock worth $20,369,946. 1.99% of the stock is currently owned by insiders.

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.